| Jan 18, 2015
| 9:00 AM
The AIG effect may be dead.
During the nation’s financial collapse, insurance giant AIG held a weeklong retreat at a swanky Dana Point resort, less than a week after getting an $85-billion federal bailout. The scandal sparked such outrage that...
| Dec 19, 2014
| 6:14 AM
Federal regulators Friday designated MetLife Inc. for special oversight, saying the insurer is so big that its failure or other major problems would pose a threat to the U.S. financial system.
In a 9-1 vote, the Financial Stability Oversight Council --...
| Jan 5, 2015
| 2:14 PM
Christopher J. Swift, CEO of the Hartford Financial Services Group, has been elected chairman of the board of directors, the company announced Monday.
Swift became CEO in July 2014, taking over from the property-casualty insurer's former CEO, Liam E....
| Sep 22, 2014
| 2:30 AM
Veteran fund manager Bill Nygren co-manages three Oakmark funds: Oakmark Fund, Oakmark Select and Oakmark Global Select. He looks for growing businesses whose stocks trade for less than he thinks a company is worth and that are run by executives who put...
| Nov 19, 2014
| 12:59 PM
State Insurance Commissioner Thomas B. Leonardi, who led the department for nearly four years and traveled widely as an industry expert, is resigning to take a job with a New York investment firm.
Leonardi, 60, is taking a job at Evercore Partners Inc.,...
| Sep 25, 2014
| 5:10 PM
A Glendale Police sergeant arrested last month for allegedly soliciting a prostitute in Nevada is on paid leave of more than $10,000 a month until he reaches retirement, part of a settlement reached with the city in May regarding his discrimination...
| Sep 26, 2014
| 10:04 AM
A Glendale police sergeant arrested last month for allegedly soliciting a prostitute will make more than $10,000 a month on paid leave until he retires at the end of 2015, records show.
The arrangement was reached months before Sgt. Vahak Mardikian&...
| Oct 6, 2014
| 9:29 AM
Los Angeles-based distressed-debt manager Oaktree Capital Group on Monday named its first CEO: former AIG executive Jay Wintrob.
Wintrob, who left AIG last month, will become chief executive Nov. 1, the company said in a statement. Wintrob has served on...
| Oct 6, 2014
| 5:14 PM
The 2008 government bailout of American International Group Inc. was specifically designed to punish the insurance giant, former Treasury Secretary Henry M. Paulson said in U.S. court Monday.
The $85-billion loan package extended to AIG — then...
| Oct 8, 2014
| 5:17 PM
The trial pitting a fallen financial titan against an array of former high government luminaries provides a through-the-looking-glass view of the financial credit crisis of 2008 — a view that only makes sense on Wall Street.
In the U.S. Court of...
| Oct 9, 2014
| 5:18 PM
Imagine you were a swimmer who'd recklessly gotten caught in a riptide, only to be saved by a boater who was busily helping other struggling swimmers to shore. Would you complain if the boater charged you a big fee? Maybe. But you almost certainly wouldn'...